Would you like to build your own website with this template? BUY NOW or use our FREE 7 days TRIAL!

Bankruptcy

Bankruptcy law does not necessarily place divorced or divorcing spouses in an adversarial posture. Sometimes a joint bankruptcy case can reduce the financial pressures on a troubled marriage, thereby facilitating reconciliation. Discharge of debts and the avoidance of liens on property can enhance the size of the estate to be divided or, at least, will reduce the debts to be divided. Avoidance of liens on exempt property will increase assets that might otherwise be lost. A jointly planned bankruptcy case before a divorce might equalize the bargaining power of the spouses, eliminating the threat that one spouse will later file and leave the other to pay all of the joint debts.)